The heart of a business lies with the people who dedicate their lives to making it a success, the employees. Without them, business would simply crumble. It is therefore vital for any entrepreneur that their workers are performing to their maximum, but how is this achieved? It is important to understand that each individual has a different mind-set and way of thinking, meaning that motivational techniques have to be specific to each employee, depending on their needs and desires. Bearing this in mind, here are several different techniques that you can adopt and an explanation of how to identify what motivates your employees.
The be all and end all, money. Financial incentives such as higher base salaries and bonuses are the most common motivational technique used by business owners. According to a study conducted by Westminster College, 65% of employers believe that money is the primary motivator for employees. For some employees this is the case, however according to the same study, only 18% of workers say that money is what motivates them most, with both boosting morale and recognition ranking higher. This may come as a surprise to many employers but believe it or not, not all employees are mercenaries after your money.
Another popular technique that all leaders should look to incorporate into their workplace is giving recognition to staff for their good work. Although it is true that practically everyone welcomes praise, some employees rely on it to feel that they are valued. This can be achieved through awards such as “employee of the month” as well as a friendly “well done” to workers who are consistent in their work. This also helps to create a welcoming atmosphere in the workplace which creates the environment for employees to succeed.
For many employees, simply knowing that their job is safe and secure offers motivation to perform to a high standard. Many of the employees in this category may have young families so offering flexible working hours will be a major advantage to them and in turn, your business. It would be wise to not overwhelm these employees to the point where they feel pressured and work with a burden upon them.
The best way to evaluate what motivates an employee is to get to know them. Having a quick chat to them about what gives them the urge to get out of bed in the morning will allow you to put together a tailor-made reward system that aims to maximize their potential. It is also important to understand that people’s needs will change over their working career so a regular review is advisable. Rewards should also be adapted to increase their effectiveness whilst evolve to ensure that employees are continued to be motivated in their line of work.